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Updated almost 10 years ago on . Most recent reply

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14
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2
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Annette Gutierrez
  • Bloomington, CA
2
Votes |
14
Posts

Wholesale transaction but ending at Investor transaction.

Annette Gutierrez
  • Bloomington, CA
Posted

So I have a seller I may be purchasing a property from and then selling to an end buyer. I do have an LLC. And would purchase in LLC name. I'm just starting out so I don't really have a buyers list. I know a few investors but their not interested. So I received a call from this guy says he needs a place. I tell him about the property. I tell him it's all cash, as is. He says he qualifies for loan but his boss will loan him the cash. So I'm thinking instead of using transactional funding saving me quite a few dollars I bring the boss on as an investor. Get the cash from him. Give him a promissory note. Instead of interest I will give him clear and marketable title to the property. The boss said he will then either carry paper or just rent place out to his employee. Everyone is in agreement. Does anyone see a problem with this scenario?

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